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Minneapolis Fed tackles education this week

The Federal Reserve Bank of Minneapolis will examine innovation in early childhood development and K-12 education during a two-day conference beginning Tuesday in Minneapolis.

Maximizing employment is part of the Federal Reserve's mandate. And there's a correlation between workforce education levels, employment and economic growth, said Fed economist Rob Grunewald.

"Demand for workers is going to continue to grow over time, and if our education system starting from early childhood through K-12, through college, can meet the demand for those job openings, we'll have not only a strong economy but those benefits also go to the children with that strong education," he said.

The conference occurs 15 years after Grunewald and the bank's then-research director Art Rolnick co-authored a study that found investments in early childhood development programs deliver a high rate of economic return for participants, and for society as a whole — as much as 18 percent each year from age 5 to the early 60s.